Fun

Hawaii crypto firms no longer need MT license, regulator rules

News Feed - 2024-07-01 05:07:56

Helen Partz25 minutes agoHawaii crypto firms no longer need MT license, regulator rulesWhile being exempt from the Money Transmitter License requirement, crypto firms in Hawaii will still have to comply with any federal licensing laws.137 Total viewsListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksCryptocurrency firms in Hawaii are now officially exempt from the requirement to receive a Money Transmitter License (MTL) to run business in the state.


The Hawai‘i Department of Commerce and Consumer Affairs (DCCA) informed the public that the state concluded the collaborative crypto research project Digital Currency Innovation Lab (DCIL) on June 30, 2024.


Initiated in 2020, DCIL aimed to explore the landscape of digital currency activity within the state as well as assess the regulatory framework required for crypto-related companies.


Completing the project, Hawai authorities ruled that digital currency companies will no longer require a Hawai‘i-issued MTL to conduct business within the state, according to an official statement published on June 28.


“The companies will be able to continue transaction activity as an unregulated business,” DCCA said in the statement, adding that crypto companies will still be responsible for complying with any applicable federal licensing or registration requirements.


Such requirements will include those set forth by the Financial Crimes Enforcement Network (FinCEN), the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority.


Additionally, compliance will involve “any pertinent federal regulatory requirements involving consumer protection,” Anti-Money Laundering measures and others, the statement notes.


This is a developing story, and further information will be added as it becomes available.# Bitcoin# FinCEN# SEC# AML# Hawaii# RegulationAdd reaction

News Feed

Analyst Confirms Ethereum Golden Cross As ETH Surges Past $4,000 – Is Altseason In Sight?
Este artículo también está disponible en español. Ethereum (ETH) surged past $4,000 earlier today for the first time since March 2024. Having surpassed a key price level
Bermuda Starts Development of a Blockchain-Based National ID System
The initial phase of Bermuda’s national blockchain-based electronic identification program is setting sail, one of very few such initiatives anywhere. A digital ID solution f
Solana Price On The Verge Of 2022-Like Crash To Send It Back To $22?
Este artículo también está disponible en español. The Solana price is on the verge of a possible meltdown reminiscent of Terra‘s (LUNA) infamous collapse in 2022. A cry
Andrew Singer10 hours agoTerrorist fundraising: Is crypto really to blame?The industry is reeling as governments, legislators, and even investors ask if its networks are being exploited by terrorists. A sense of proporti
Dogecoin Price To Enter Phase E After Testing Last Point Of Support, Here’s The Target
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Move-to-earn protocol StepN announces $30M airdrop for users
Zhiyuan Sun7 hours agoMove-to-earn protocol StepN announces $30M airdrop for usersLoyal users of the popular Solana-based lifestyle app can claim rewards by the end of April.2142 Total views13 Total sharesListen to artic
IRS Modifies Crypto Question on Tax Form — Now Focusing on Taxable Cryptocurrency Transactions
IRS Modifies Crypto Question on Tax Form — Now Focusing on Taxable Cryptocurrency Transactions The U.S. Internal Revenue Service (IRS) has modified the crypto
Budweiser Launches 1,936 NFT Cans, Bud-Themed Marketplace Gets Bogged Down With Traffic
Budweiser Launches 1,936 NFT Cans, Bud-Themed Marketplace Gets Bogged Down With Traffic The popular American-style pale lager produced by Anheuser-Busch, Budweiser announced on Nov
Kamala Harris supporting crypto could impact vote in key states — Think tank
Turner Wright5 hours agoKamala Harris supporting crypto could impact vote in key states — Think tankThe race between presumptive Democratic nominee Kamala Harris and Republican nominee Donald Trump is expected to be cl
NYDIG Registers for a Bitcoin ETF, Morgan Stanley Named a Participant in SEC Filing
NYDIG Registers for a Bitcoin ETF, Morgan Stanley Named a Participant in SEC Filing Just recently, during Microstrategy’s “Bitcoin for Corporations&r
Direct client demand driving growth in BlackRock's Bitcoin ETF so far
Derek Andersen3 hours agoDirect client demand driving growth in BlackRock"s Bitcoin ETF so farBlackRock head of digital assets Robert Mitchnick talked ETFs with Bloomberg’s James Seyffart at Bitcoin 2024.1761 Total vie
Bitcoin is facing a rare ‘extended level’ of FUD on X — Santiment
Ciaran Lyons2 hours agoBitcoin is facing a rare ‘extended level’ of FUD on X — SantimentSantiment’s Bitcoin social sentiment indicator has been flashing red as the price of Bitcoin has been hovering around the $6